*****************************************************
Hong Kong's role as a business gateway to the markets of Mainland China and Asia as well as potential trade partnerships between Hong Kong and Mississippi were key topics discussed when the Hong Kong Commissioner for Economic and Trade Affairs, USA, Mr Donald Tong, met with the Governor of the State of Mississippi, Mr Phil Bryant on January 23 (Mississippi time).
Mr Bryant proclaimed January 23, 2013 as "Hong Kong Day" in honour of Mr Tong's first official visit to the state. In his proclamation he noted that Hong Kong remains a global financial and logistics hub and "a vibrant city with a rich culture blending the best of East and West".
Over the past 30 years, economic and trade ties between Mississippi and Hong Kong have grown from strength to strength, with exports from Mississippi to Hong Kong increasing from US$45 million in 2009 to US$114 million in 2011 - an increase of 152 per cent. Among the top export commodities to Hong Kong are processed foods and poultry, electrical machinery and golf/sports equipment.
Later in the day at a luncheon attended by some 70 local business, academic and political leaders in Jackson, the state capital, the Commissioner highlighted Hong Kong's strengths as "a place where the China and global advantages meet". Hong Kong has become an important platform for Mainland companies to "go global" as well as a leading centre for legal services and dispute resolution in the Asia Pacific region. Its business friendly environment and world class infrastructure and professional services are particularly attractive to US businesses.
"The US is our second largest trading partner after the Mainland. US exports to Hong Kong have increased by nearly twofold over the past decade. Hong Kong is now the 10th largest export destination for US products," he said.
"US companies form the largest foreign company contingent in Hong Kong, totalling 1 388, which is a far cry from 808 in 2001. Indeed, over the past two decades, the number of overseas and Mainland companies using Hong Kong as a base for their regional operations has grown fourfold. We now host almost 4 000 regional headquarters and regional offices," said Mr Tong.
For Mississippi and US firms looking to expand overseas, Mr Tong spoke about new business opportunities, including industries where Hong Kong enjoys clear advantages, such as in testing and certification, innovation and technology, and cultural and creative industries.
Meeting with students of Mississippi State University in the afternoon, Mr Tong highlighted the latest developments in Hong Kong and the opportunities that they provided for aspiring students.
During his two-day (January 23-24) visit, Mr Tong met with officials from the Mississippi Development Authority, Mississippi Economic Development Council, and local government officials and business leaders in the Starkville/Golden Triangle Development LINK area. He was briefed on facilities and research at the Centre for Advanced Vehicular Systems, the Energy Institute and the High Performance Computing Collaboratory in Mississippi State Research Park.
Ends/Thursday, January 24, 2013
Issued at HKT 13:10
NNNN
